4 Midland CtSpringfieldIL62702
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Springfield at 4 Midland Ct, Springfield, IL, 62702 offers $1,113/mo rent that, after a $685/mo payment, leaves $142/mo cash flow. Total monthly income is $1,113/mo, and annual cash flow is $1,706/yr on $46,410 cash. Return on cash invested measures 23.59% in year one, and rental yield stands at 9.54% at a $140,000 entry. Equity gained on principal adds $903/yr while 5% annual appreciation compounds into $38,679 by year five. Five-year ROI records 123.62% and total cumulative return in cash reaches $57,370. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,113/mo property income versus a $685/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1957
4,600 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 62702, Springfield, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,461 (100%) |
| Owner Occupied HU | 9,223 (52.8%) |
| Renter Occupied HU | 5,839 (33.4%) |
| Vacant Housing Units | 2,399 (13.7%) |
| Median Home Value | $107,233 |
| Average Home Value | $139,772 |
Housing Distribution
Address Breakdown
Residential
16,552
Single Family
14,916
Multi-Family
1,636
Businesses
931
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Listed by: Sarah Quattrin Coombe • Keller Williams Capital
Mls Name: RMLS Alliance
Mls ID: #CA1039115